Foreclosures Help Information

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Buying Foreclosed Property From Bank

Question: Once your house is foreclosed on and you have had liens against your house do they follow you?

We got sued a couple of years ago when a kid got injured on our property. He won a settlement of $75,000. They put a lien on our house. Our house was foreclosed and sold at auction and we were evicted on Sunday. We got a note from the bank saying thank you for paying off your house. If we go to buy a new house someday does the $75,000 lien come with us or was it settled when a flipper bought our house?

Answer: Was the house sold for more then you owed? If it did then what ever was left over then it would have gone to payoff that lien. If not then the lien will follow you until it is paid off. If the house was sold for less then the amount owed you will be responsible for the difference of that also. Good Luck.

The Real Estate Newbie Investing Show - Buying Foreclosures ( Bank Owned Properties )

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Stop Foreclosure Sale

Question: Stop Foreclosure Trustee Sale?

We have received a date for a trustee sale on our house. we are behind 6 onths and have talked with a attorney. He wants us to file a BK but our income is too high.( so is our mortgage)..
Anyway I have two questions..
1. Is there anyway to stop the tustee sale without using a attorney??
2. If we file a BK to stay in the house a few more months, will it show on our credit report if we dont do anything past the filing??
Thanks
Confused & Broke

Answer: John, the attorney's advise is most likely your only option due to your current financial situation.

If you had paid a small amount of your mortgage each month and at least spoke to the lender when they called, you might have staved off the foreclosure proceedings. Now there are only two ways to stop it, file BK or pay up.

Save my home from forclosure? Get a rate modification? Stop foreclosure sale.

Foreclosed Rentals

Question: What are the foreclosed homes doing to the rental market in CA?

Answer: Not sure about CA, but where I live (another depressed area) the rental market is booming. I mean price your place right and the phone rings off the hook. All those people that are losing their jobs have to live somewhere, I guess.

LAS VEGAS REAL ESTATE UPDATE-TENANTS BEING FORECLOSED UPON